Northern Irish consulting firm, First Derivatives, has acquired an Australian ISV to gain a foothold in the local market.
First Derivatives has purchased business intelligence provider, Hologram, in a non-hostile deal worth $2.5 million. Under the terms of the acquisition, Hologram will be rebranded under the First Derivatives name, and all of the company’s six staff will be retained.
Hologram principal, Paul Phillips, said it was a positive development for the ISV.
“Instead of a small outfit, we’re now part of a large, global organisation, and have access to far greater resources. The First Derivatives product sets are very widely used in top tier firms across the globe, so we will be able to leverage that locally,” he said.
On the back of the acquisition, Phillips said Hologram has set itself plans to expand, both in terms of head count and reach.
“We believe we’ll be expanding the consulting side of the business quite rapidly,” he said. “First Derivatives has not had a presence in Australia before, and only a small presence in China. We expect we’ll be helping to drive growth there as our next move.”
In a release, First Derivatives CEO, Brian Conlon, said the skills between the two companies forms a strong synergy and the Hologram product will fit seamlessly into the overall portfolio.
First Derivatives was founded in 1996 and employs 260 people. It has offices in London, New York, Stockholm, Shanghai, Singapore, Toronto and Hong Kong.